TOP NEWS Launches, Discloses Funding

Santa Monica-based has launched an online video web site focused on comedy, and has also scored a round of funding. The funding for the site came from Symbolic Action, Prism VentureWorks, and Walden Venture Capital. was founded by former UPN CEO Dean Valentine, who also manages Symbolic Action. The site--which joins a slew of comedy sites launched in recent weeks--features original, comedy content. A source at Prism Ventures, which was seed investors in the site, told socalTECH that the funding was actually done awhile ago, but only recently came to light due to's launch. Prism's lead on the deal was Woody Benson. joins WayOutTV, a comedy channel from comedian Damon Wayans; Funny or Die, a comedy site run by Will Ferrell; and similar offerings from My Damn Channel and others. News of the funding was first reported by Variety. More information »